Which of the Following Is True in Long-Run Equilibrium for Both

question 47

Multiple Choice

Which of the following is true in long-run equilibrium for both perfect competition and monopolistic competition?

• A)Accounting profit is zero.
• B)Marginal cost equals price.
• C)Long-run average cost is at a minimum.
• D)Economic profit is zero.
• E)Economic profit is negative.

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